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Thus, despite their high-security design, hardware wallets are not immune to scams that target user interaction decisions—highlighting the importance of cautious transaction and contract verification.
What Are Cold Wallets?
Cold wallets are a broader category of storage devices designed primarily for offline storage and simple transfers. Their defining feature is their minimal interaction with the internet and blockchain applications, eliminating the risk of malicious contracts or phishing attacks that exploit web3 environments.
Cold Wallets vs. Hardware Wallets
While hardware wallets are often considered a type of cold wallet, not all cold wallets are hardware wallets. Cold wallets can take various forms, including: